Xiaomi’s profit drops again as the memory crunch squeezes its phones

Xiaomi’s profit fell again in the second quarter. A global memory shortage kept pushing up the cost of its phones. The Chinese company posted its third straight quarterly profit decline, Bloomberg reported. Adjusted net income dropped about 43 percent to 6.22bn yuan ($922mn). The reported figure was less severe. Net profit fell 20.5 percent, The […]
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